Daily technical analysis and forecast for 3 August 2026

Daily technical analysis and forecast for EURUSD, USDJPY, GBPUSD, AUDUSD, USDCAD, XAUUSD, US 500, and BTCUSD for 3 August 2026.

EURUSD forecast

On the H4 chart, the EURUSD pair found support at 1.1455 and completed an upward wave to 1.1556. Today, 3 August 2026, a consolidation range is forming below this level. An upside breakout would open the potential for a rise to 1.1575. Alternatively, a downside breakout would indicate continued downward movement towards 1.1480 and possibly further to 1.1400, a local target.

Technically, this scenario is confirmed by the Elliott wave structure and the wave matrix with a pivot point at 1.1680, a key level in the current EURUSD downward wave. The market has formed a consolidation range below the upper boundary of the Price Envelope at 1.1556. A downside breakout is forming a downward wave towards its central line at 1.1480. If this level is also broken, a further decline to 1.1420 is expected.

Technical indicators for today's EURUSD forecast suggest a trend-driven decline to 1.1480.

USDJPY forecast

On the H4 chart, the USDJPY pair broke below 158.88 and completed a downward wave to 155.25. Today, 3 August 2026, an upward move towards 157.30 is expected. A consolidation range may then form below this level, potentially expanding upwards to 159.60 and downwards to 155.50.

Technically, this scenario for USDJPY is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 159.10, a key level in the current wave. The market is currently forming a consolidation range around the central line of the Price Envelope at 159.60. A downside breakout pushed the price down to its lower boundary at 155.25. Today, a consolidation range is expected to develop above this level. An upside breakout would open the potential for a wave towards its upper boundary at 159.60.

Technical indicators for today's USDJPY forecast suggest a rise to 159.60.

GBPUSD forecast

On the H4 chart, the GBPUSD pair completed an upward wave to 1.3525. Today, 3 August 2026, a downward wave is expected to begin, targeting 1.3366, with the potential for the downtrend to extend to 1.3300, a local target.

Technically, this scenario for GBPUSD is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 1.3300, a key level in the current wave. Today, a downward wave is forming towards the central line of the Price Envelope at 1.3300. A consolidation range is then expected to develop above this level. Subsequently, a further downward structure towards 1.3161 may develop.

Technical indicators for today's GBPUSD forecast suggest a downward wave towards 1.3300.

AUDUSD forecast

On the H4 chart, the AUDUSD pair completed an upward wave to 0.7049. Today, 3 August 2026, a consolidation range is expected to form below this level. An upside breakout would open the door for a rise to 0.7055, while a downside breakout would indicate a downward wave towards 0.6933.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix for AUDUSD with a pivot point at 0.7200, a key level in the current wave. The market has completed an upward wave to the upper boundary of the Price Envelope at 0.7049. Today, a consolidation range is forming below this level. A downward wave towards its lower boundary at 0.6933 is expected to begin.

Technical indicators for today's AUDUSD forecast suggest a downward wave towards 0.6933.

USDCAD forecast

On the H4 chart, the USDCAD pair completed a downward wave to 1.4000. Today, 3 August 2026, a consolidation range is expected to develop around this level. A downside breakout would open the way towards 1.3990, while an upside breakout would signal continued upward movement towards 1.4066 and possibly further to 1.4136.

Technically, this scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 1.3629, a key level for USDCAD in the current upward wave. The market has completed a downward structure towards the lower boundary of the Price Envelope at 1.4000. A consolidation range is then expected to form around this level. A downside breakout would open the way towards 1.3990, while an upside breakout would indicate the continuation of the upward wave towards its central line at 1.4066.

Technical indicators for today's USDCAD forecast suggest a rise to 1.4066.

XAUUSD forecast

On the H4 chart, XAUUSD completed an upward wave to 4,080. Today, 3 August 2026, a consolidation range is forming below this level. The downward wave is expected to continue towards 3,995, followed by a rise to 4,040. The downtrend may then continue towards 3,960, a local target.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 4,550, a key level for XAUUSD in the current wave. The market has completed an upward wave to the central line of the Price Envelope at 4,080. A consolidation range is then expected to develop below this level. A downside breakout would indicate a probable decline to its lower boundary at 3,960.

Technical indicators for today's XAUUSD forecast suggest a drop to 3,960.

US 500 forecast

On the H4 chart, the US 500 completed an upward wave structure, reaching 7,544. Today, 3 August 2026, a consolidation range may develop around this level. An upside breakout would open the door for an upward wave towards 7,580, followed by a decline to 7,490.

Technically, this scenario is confirmed by the Elliott wave structure and the downward wave matrix with a pivot point at 7,480, a key level for the US 500 in the current wave. The market is currently forming a consolidation range above the central line of the Price Envelope at 7,490. A rise towards its upper boundary at 7,580 is expected.

Technical indicators for today's US 500 forecast suggest continued growth towards 7,580.

BTCUSD forecast

On the H4 chart, BTCUSD completed a downward wave to 62,775. Today, 3 August 2026, a consolidation range is forming above this level. A downside breakout could push the price lower towards 61,530, while an upside breakout would pave the way for a move towards 64,550.

Technically, this scenario is confirmed by the Elliott wave structure and the upward wave matrix with a pivot point at 63,000, a key level for BTCUSD in the current wave. The market is currently forming a downward wave structure towards the lower boundary of the Price Envelope at 61,530. A rise towards its upper boundary at 64,550 is expected afterwards.

Technical indicators for today's BTCUSD forecast suggest a drop to 61,530.

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